Government-backed savings provider NS&I has today closed applications to new customers for its five-year children's bonds, though hundreds of thousands of existing accounts can still be renewed at maturity if the child is under 16.

The account, which pays 2% AER tax-free interest fixed for five years on up to £3,000, can now only be opened as a renewal of an existing bond when it matures at the end of its term. As of March 2017, there were almost 840,000 children's bonds open with a collective £500 million saved.

It could previously be opened by the parent, grandparent or guardian of any child under 16. We've asked NS&I if there are any plans to remove the option to renew maturing accounts, and it says it reviews all its products regularly, and will update customers if there are any changes.

Next-day energy switching is in the pipeline as part of a drive to make it easier for consumers to swap suppliers.

The energy regulator Ofgem is currently consulting on the plans, which would mean customers who request to switch energy suppliers before 5pm would be moved to a new company by the end of the following day.

To find your cheapest deal and see if you can save £100s by switching NOW, use our free Cheap Energy Club.

E.on has announced it is to scrap its standard variable tariff for many customers from next year, replacing it with a cheaper one-year fix with no exit fees – though you'll need to have a smart meter or already be on a fixed tariff to benefit.

The energy firm is the first of the big six providers to act on standard variable tariffs (SVTs) – the expensive default energy deals about 66% of households are still on.

From next year if you're on E.on's standard tariff and have or arrange to have a smart meter installed, or if you're on a fixed E.on tariff which comes to an end, you'll automatically be placed on the new one-year fix.

Ride-hailing app Uber will not be issued with an operating licence after its current one expires at the end of this month, Transport for London has announced.

Transport for London (TfL) said the firm is "not fit and proper" to operate in the capital due to concerns which have "public safety and security implications". These include its approach to reporting serious criminal offences and how it carries out background checks on its drivers.

The Uber app allows users to book cars using their smartphones, and is available in cities across the UK. Some 3.5 million passengers and 40,000 drivers use the Uber app in London.

Apple's iPhone 8 and 8 Plus are now on sale in the UK. Buying a new iPhone is never MoneySaving – but if you're determined to get one anyway, buying it in the right way could save you almost £500 compared with the cost of a standard contract.

Update 3pm Mon 25 Sep: Mobile phone prices can change hourly, particularly after a new handset's launch. These prices were correct as of 3pm Monday - but if you're going to buy, make sure you do your own price comparison.

Generally the cheapest way to buy a new iPhone is to pay for it outright – if you can afford to – and then pair it with a cheap Sim-only contract, as buying on a traditional contract from the major mobile networks will tie you in for 24 months and can cost £100s more over the contract's length.

Ryanair has made a U-turn and agreed to move passengers whose flights it has cancelled onto other airlines if necessary.

The Civil Aviation Authority (CAA) has stepped in after Ryanair chief executive Michael O'Leary said the budget carrier would not pay for passengers to take flights on other airlines, stating that that was not required under EU flight delay law. This comes amid widespread disruption caused by Ryanair cancelling thousands of flights.

The CAA wrote directly to O'Leary on Monday and says it has confirmation Ryanair will use other airlines to help those affected, if required. The regulator has promised to "closely monitor" the situation, and will consider enforcement action if the airline does not comply.

A student MoneySaver has become a viral sensation after getting his food and drinks paid for all evening following a shout-out for birthday freebies.

Nick Matthewman celebrated his 20th birthday at The Bankers Draft Wetherspoon's pub in Sheffield yesterday, as the pub chain was offering 7.5% off all food and drink as part of its 'Tax Equality Day' – a campaign to highlight the level of VAT paid by the pub industry.

When they got to the pub, Nick's mate Rory decided to take their money-saving to the next level, asking Twitter users to buy his pal a birthday drink on Wetherspoon's table service app. The app allows users to order food and drink to a specific table in one of the chain's pubs, and pay for it.

Energy bills are rising at the fastest rate since early 2014 and contributing to a 2.4% increase in a typical household's average bills and expenses, this month's MSE Bills Tracker reveals.

Our tracker, which launched last month, uses data supplied by the Office for National Statistics (ONS) to create a picture of the average price changes for household bills across the UK.

Inflation is usually measured by looking at the prices of hundreds of different items, but crucially our tracker cuts most of these out and focuses only on core expenses such as housing costs, energy and insurance – expenses which most households have and which typically make up the lion's share of their outgoings.

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